Business Daily from THE HINDU group of publications
Wednesday, Jul 08, 2009
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Business Daily from THE HINDU group of publications Wednesday, Jul 08, 2009 ePaper | Mobile/PDA Version | Audio | Blogs |
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Corporate
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Outlook
Our Bureau Hyderabad, July 7 Pharma major Dr Reddy’s Laboratories Ltd is expecting its German arm, Betapharm, to perform better during the current financial year. During the last fiscal, the Hyderabad-based company had shown Rs 1,086 crore as a non-cash charge on impairment of Betapharm’s intangible assets and goodwill. “You should see stronger performance from Betapharm in 2009-10 and thereafter,” Dr K. Anji Reddy, Founder-Chairman of Dr Reddy’s, said in his letter to the shareholders in the annual report of the company for 2008-09. “Significant work was done to optimise costs and streamline the supply chain of Betapharm a milieu of tender-based pricing. These initiatives are yielding results,” he said. Dr Reddy’s had done much better than expected in 2008-09, he said. It had surpassed the target of 25 per cent growth in the top line by posting 39 per cent increase in revenues. The target for growth this year should be another 10 per cent, Dr Reddy said. “This is not a modest target, for it implies more than a 50 per cent growth in revenues over two years,” he added. It was in the process of building a robust generics and Active Pharmaceuticals Ingredients. In 2008-09, 23 abbreviated new drug applications were filed besides 55 drug master files. “In the discovery research, there are several molecules which are under active development,” Dr Reddy said. Dr Reddy’s takes Betapharm hit Dr Reddy’s Betapharm gets 8 drug contracts in Germany More Stories on : Outlook | Pharmaceuticals | Dr. Reddy's Laboratories Ltd
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